Global Skin Care Industry Expects Long-Term Growth

A study released in June of 2016 by Grand View Research, indicates that the global skin care industry will reach $196.67 billion by the year 2024, putting the industry $67 billion ahead of where it was in 2015. This growth hints at good things to come for the organic personal care industry, as the article attributes much of the predicted growth to environmentally friendly options and increased demand for organic ingredients. Additional reasons for industry growth include the ongoing improvements of the cosmetic e-commerce platform and a hike in income levels for the Middle Class in countries such as China, Japan and India.

Additionally, the report acknowledges the shift of demand away from synthetic ingredients and towards organic ones. Furthermore, insights indicate that manufacturers are stepping up spending on R&D activities specifically for natural and organic products. This can be interpreted that the consumer’s demands for authentic, natural personal care products have been heard and that it will become easier and more affordable for consumers to apply safe and healthy products to their skin.

Within the vast industry of skin care, face creams are projected to experience the most significant growth mostly due to the increasing demand for anti-aging creams. Grand View Research is calling this a “Revolution in the market place,” as innovative anti-aging and skin-brightening solutions are being created by the strategic collaborations between organic product manufacturers and raw material suppliers.

Overall, this report should be seen as encouraging for those who carefully watch what they apply to their skin, as it means consumers will have an increasing variety of safe, organic and natural cosmetic supplies to choose from in the years to come.